Cathy is a 50% partner in the CD partnership, which owns a small manufacturing business. In the
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Cathy is a 50% partner in the CD partnership, which owns a small manufacturing business. In the current year, the business had qualified business income of \($2.8\) million. CD partnership paid W-2 wages of \($900,000\) and owns depreciable tangible property with an unadjusted basis of \($1,600,000.\) What is Cathy’s qualified business deduction (ignoring the 1/2 deduction for self-employment taxes)?
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Pearsons Federal Taxation 2024 Individuals
ISBN: 9780138238100
37th Edition
Authors: Mitchell Franklin, Luke E. Richardson
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